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2025-12-31-accounts

Charity registration number 1179484 (England and Wales)

MERSEA ISLAND COMMUNITY ASSOCIATION CIO ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees B Bolton
W Bolton
F Thomas
G Petley
J Lee
P Tydie
R Jenkins
F Rodwell
Dr T Hart (Appointed 15 October 2025)
Charity number 1179484
Principal address The Mersea Centre
38 High Street
West Mersea
Colchester
Essex
CO5 8QA
Auditor Streets Audit LLP
Orderly House
Dragoon Road
Colchester
CO2 7FU

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

CONTENTS

Page
Trustees' report 1 - 3
Statement of Trustees' responsibilities 4
Independent auditor's report 5 - 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 22

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees present their report and financial statements for the year ended 31 December 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the CIO's governing document, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The original Association was founded in 1976 by a Trust deed to promote the benefit of the inhabitants of Mersea Island by the advancement of education and the provision of social welfare for recreation and leisure time occupation. The Trust Deed charity was converted to a Charitable Incorporated Organisation (CIO) in 2019.

The Trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the CIO should undertake.

Achievements and performance

During the year the Association has continued to operate the Mersea Island Community Centre to provide the following facilities for the benefit of the residents of and visitors to Mersea Island:

A central site comprising a mixture of meeting, function and sports halls that can be used by local organisations and the general public for a variety of functions.

Sports facilities that include a fitness centre and squash and badminton courts. These are augmented by a number of keep fit events for all ages which include Pilates, Yoga, Keep Fit, Dance, Walking Football, Walking Cricket, Tai Chi,Table Tennis, Carpet Bowls.

Theatrical facilities are available which permit rehearsal, dance training and the means to put on amateur shows and plays.

The main and small halls are available to provide regular concerts, film shows, dances, private parties, blood donor sessions, diabetic eye clinics, Barclays Bank hub, poll facilities, public meetings, tabletop sales and bazaars.

The Centre has become busier throughout the year. Attendance at activities has increased and more activity sessions have been introduced. Events have been well attended. A brochure was again produced and distributed locally to advertise activities and events at the Centre. Members also receive regular emails.

Financial review

It is the policy of the Association that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six month’s expenditure.

Costs are monitored, researched and advice taken to ensure that decisions are made to keep costs to a reasonable level. The new heating system put in last year reduced our gas consumption and the new solar energy system installed this year is reducing our electricity consumption. An updated sound system, using funds raised last year, is now up and running.

The centre running costs were covered from charges made to users and from donations in money and in kind. Donations made in kind are sold through the association's own charity shop, which is staffed by volunteers. The association has also benefited from some gift aid income.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

TRUSTEES' REPORT (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

Decisions are taken in good time so that any changes to the Association's operations are made in a timely manner in order that the Charity remains financially sound and is able to continue to serve the community.

The Trustees has assessed the major risks to which the CIO is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees and management endeavour to ensure that the Centre is used to best advantage and that every opportunity is taken to take on long term commitments to ensure a steady income.

There is a five-year plan in place, which is periodically reviewed, to prioritise improvements that need to be made at the centre.

Structure, governance and management

The Association is a Charitable Incorporated Organisation (CIO), subject to the provisions of its Constitution.

The Trustees who served during the year and up to the date of signature of the financial statements were: B Bolton

W Bolton F Thomas G Petley J Lee P Tydie R Jenkins F Rodwell Dr T Hart (Appointed 15 October 2025)

A new trustee was appointed in October 2025. Appointments are made with regard to the skills, knowledge and experience needed for the effective administration of the CIO.

The day to day operation of the centre in 2025 was the responsibility of the Manager, Mr. Tim Gannon. The manager was assisted by two full time, five part-time staff and a team of volunteers to ensure that the Centre has operated as fully as possible in the year.

Auditor

In accordance with the company's articles, a resolution proposing that Streets Audit LLP be reappointed as auditor of the company will be put at a General Meeting.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

Disclosure of information to auditor

Each of the Trustees has confirmed that there is no information of which they are aware which is relevant to the audit, but of which the auditor is unaware. They have further confirmed that they have taken appropriate steps to identify such relevant information and to establish that the auditor is aware of such information.

The Trustees' report was approved by the Board of Trustees.

B Bolton F Thomas Trustee Trustee

28 April 2026

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

STATEMENT OF TRUSTEES' RESPONSIBILITIES

FOR THE YEAR ENDED 31 DECEMBER 2025

The Trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the CIO and of the incoming resources and application of resources of the CIO for that year.

In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping sufficient accounting records that disclose with reasonable accuracy at any time the financial position of the CIO and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the CIO and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

INDEPENDENT AUDITOR'S REPORT

TO THE TRUSTEES OF MERSEA ISLAND COMMUNITY ASSOCIATION CIO

Opinion

We have audited the financial statements of Mersea Island Community Association CIO (the ‘CIO’) for the year ended 31 December 2025 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the CIO in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the CIO’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF MERSEA ISLAND COMMUNITY ASSOCIATION CIO

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the statement of Trustees' responsibilities, the Trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the CIO’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

The audit tests, including planning procedures, adopted for the audit of these financial statements are designed to assess and detect the risk of irregularities, including fraud. Our risk assessment of the likelihood of irregularities included the high degree of involvement of the experienced board members, which reduces the risk of irregularities.

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, our procedures included the following:

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF MERSEA ISLAND COMMUNITY ASSOCIATION CIO

We identified the greatest potential for fraud or non-compliance with laws and regulations in the following areas, and the specific procedures performed to address them are described below:

In addition to the above, our procedures to respond to the risk identified included the following:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https:// www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

INDEPENDENT AUDITOR'S REPORT (CONTINUED)

TO THE TRUSTEES OF MERSEA ISLAND COMMUNITY ASSOCIATION CIO

Other matters

Your attention is drawn to the fact that the charity has prepared financial statements in accordance with "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (as amended) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has now been withdrawn.

This has been done in order for the financial statements to provide a true and fair view in accordance with current Generally Accepted Accounting Practice.

Use of our report

This report is made solely to the charity’s trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity’s trustees those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charity and the charity’s trustees as a body, for our audit work, for this report, or for the opinions we have formed.

Daniel Insley BA FCA (Senior Statutory Auditor)

For and on behalf of Streets Audit LLP, Statutory Auditor Chartered Accountants Orderly House Dragoon Road Colchester CO2 7FU Date: .........................

Streets Audit LLP is eligible for appointment as auditor of the CIO by virtue of its eligibility for appointment as auditor of a company under section 1212 of the Companies Act 2006.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 DECEMBER 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
26,014
6,551
Charitable activities
3
186,930
-
Investments
4
1,263
-
Total income
214,207
6,551
Expenditure on:
Charitable activities
5
226,264
13,910
Other expenditure
10
344
-
Total expenditure
226,608
13,910
Net income/(expenditure) and
movement in funds
(12,401)
(7,359)
Reconciliation of funds:
Fund balances at 1 January 2025
387,840
32,796
Fund balances at 31 December
2025
375,439
25,437		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
32,565
46,289
22,010
186,930
187,899
-
1,263
752
-
220,758
234,940
22,010
240,174
217,052
3,959
344
-
-
240,518
217,052
3,959
(19,760)
17,888
18,051
420,636
369,952
14,745
400,876
387,840
32,796		 Total
2024
£
68,299
187,899
752
256,950
221,011
-
221,011
35,939
384,697
420,636

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

BALANCE SHEET

AS AT 31 DECEMBER 2025

Notes
Fixed assets
Tangible assets
12
Investments
13
Current assets
Debtors
14
Cash at bank and in hand
Creditors: amounts falling due within one
year
15
Net current assets
Total assets less current liabilities
The funds of the CIO
Restricted income funds
18
Unrestricted funds
19		 2025
£
13,283
46,422
59,705
(27,014)		 £
368,181
4
368,185
32,691
400,876
25,437
375,439
400,876		 2024
£
6,618
86,765
93,383
(22,186)		 £
349,435
4
349,439
71,197
420,636
32,796
387,840
420,636

The financial statements were approved by the Trustees on 28 April 2026

B Bolton Trustee

F Thomas Trustee

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1 Accounting policies

Charity information

Mersea Island Community Association CIO is a Charitable Incorporated Organisation, registered with the Charities Commission.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the CIO's Constitution, the Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The CIO is a Public Benefit Entity as defined by FRS 102.

The CIO has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.

The financial statements are prepared in sterling, which is the functional currency of the CIO. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the Trustees have a reasonable expectation that the CIO has adequate resources to continue in operational existence for the foreseeable future. Thus the Trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of their charitable objectives.

Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the CIO is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the CIO has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Membership subscriptions are released to the Statement of Financial Activities over the period of the membership term.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

1 Accounting policies

(Continued)

Income from grants is included in incoming resources when these are receivable, except as follows:

1.5 Expenditure

Resources expended are recognised in the period in which they are incurred. Resources expended include VAT which cannot be recovered. Governance comprises costs for the running of the charity itself as an organisation.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings No depreciation provided Development expenditure No depreciation provided Fixtures and fittings 20% Reducing Balance / 25% Reducing Balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Fixed asset investments

Fixed asset investments are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in net income/(expenditure) for the year.

A subsidiary is an entity controlled by the CIO. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.8 Impairment of fixed assets

At each reporting end date, the CIO reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

1 Accounting policies

(Continued)

1.9 Financial instruments

The CIO has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the CIO's balance sheet when the CIO becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial instruments are initially recognised at transaction value and subsequently measured at amortised cost.

Financial assets comprise cash at bank and in hand, together with trade and other debtors. A specific provision is made for debts for which recoverability is in doubt. Cash at bank and in hand is defined as all cash held in instant access bank accounts and used as working capital.

Investments, including those in subsidiary undertakings are held at fair value at the balance sheet date, with gains and losses being recognised within income and expenditure.

Financial liabilities held at amortised cost comprise all creditors except social security and other taxes, deferred income and provisions.

1.10 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the CIO is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2 Income from donations and legacies

Unrestricted Restricted Total Unrestricted Restricted Total
funds funds funds funds
2025 2025 2025 2024 2024 2024
£ £ £ £ £ £
Donations and gifts 26,014 6,551 32,565 46,289 22,010 68,299

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

2
Income from donations and legacies
Unrestricted
Restricted
funds
funds
2025
2025
£
£
Donations and gifts
Enovert Community
Trust
-
-
Lottery Community Fund
-
-
Colchester City Council
-
6,551
Mersea Island
Community Trading
Company Limited
17,937
-
Other
3,077
-
Mersea Island Music
Marathon Donations
-
-
Mersea Island Film
Society
4,000
-
David Rogers estate
1,000
-
26,014
6,551
3
Charitable activities
Subscription and affiliation fees
Activities
Shop income
Hall hire		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
(Continued)
-
-
1,010
1,010
-
-
20,000
20,000
6,551
-
1,000
1,000
17,937
24,312
-
24,312
3,077
6,947
-
6,947
-
15,030
-
15,030
4,000
-
-
-
1,000
-
-
-
32,565
46,289
22,010
68,299
2025
2024
£
£
16,270
15,412
50,027
47,428
76,887
71,946
43,746
53,113
186,930
187,899		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
(Continued)
-
-
1,010
1,010
-
-
20,000
20,000
6,551
-
1,000
1,000
17,937
24,312
-
24,312
3,077
6,947
-
6,947
-
15,030
-
15,030
4,000
-
-
-
1,000
-
-
-
32,565
46,289
22,010
68,299
2025
2024
£
£
16,270
15,412
50,027
47,428
76,887
71,946
43,746
53,113
186,930
187,899
68,299
2024
£
15,412
47,428
71,946
53,113
187,899
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Interest receivable 1,263 752

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

5 Charitable activities

Staff costs
Depreciation and impairment
Rates
Insurance
Light and heat
Repairs and general maintenance
Postage, printing and telephone
Equipment hire
Sporting costs
Event costs
Irrecoverable VAT
Bank charges
Share of governance costs (see note 6)
Analysis by fund
Unrestricted funds
Restricted funds		 2025
£
123,159
11,753
6,678
6,126
15,470
28,963
17,466
5,194
6,583
3,254
7,946
2,374
234,966
5,208
240,174
226,264
13,910
240,174		 2024
£
121,771
7,057
5,597
5,885
14,776
22,360
14,390
5,160
5,664
3,449
7,754
2,113
215,976
5,035
221,011
217,052
3,959
221,011

6 Support costs allocated to activities

Support costs allocated to activities
Governance costs
Analysed between:
Charitable activities		 2025
£
5,208
5,208		 2024
£
5,035
5,035

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

6
Support costs allocated to activities
Governance costs comprise:
Audit fees
Accountancy		 (Continued)
2025
2024
£
£
3,817
3,672
1,391
1,363
5,208
5,035		 (Continued)
2025
2024
£
£
3,817
3,672
1,391
1,363
5,208
5,035
5,035

All governance costs were payable to the Auditor for the provision of audit services and preparation of the statutory accounts.

7 Net movement in funds 2025 2024
£ £
The net movement in funds is stated after charging/(crediting):
Fees payable for the audit of the charity's financial statements 3,817 3,672
Depreciation of owned tangible fixed assets 11,753 7,057
Loss on disposal of tangible fixed assets 344 -

8 Trustees

None of the Trustees (or any persons connected with them) received any remuneration or benefits from the CIO during the year.

9 Employees

The average monthly number of employees during the year was:

2025 2024
Number Number
8 8
Employment costs 2025 2024
£ £
Wages and salaries 119,588 117,193
Social security costs 1,705 2,813
Other pension costs 1,866 1,765
123,159 121,771

There were no employees whose annual remuneration was more than £60,000.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

9 Employees (Continued)
Remuneration of key management personnel
The remuneration of key management personnel was as follows:
2025 2024
£ £
Aggregate compensation 36,337 34,086
10 Other expenditure
Unrestricted Unrestricted
funds funds
2025 2024
£ £
Net loss on disposal of tangible fixed assets 344 -
11 Taxation

The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.

12 Tangible fixed assets

Tangible fixed assets
Freehold
land and
buildings
Development
expenditure
Fixtures and
fittings
£
£
£
Cost
At 1 January 2025
27,630
293,815
81,849
Additions
-
-
30,843
Disposals
-
-
(1,659)
At 31 December 2025
27,630
293,815
111,033
Depreciation and impairment
At 1 January 2025
-
-
53,859
Depreciation charged in the year
-
-
11,753
Eliminated in respect of disposals
-
-
(1,315)
At 31 December 2025
-
-
64,297
Carrying amount
At 31 December 2025
27,630
293,815
46,736
At 31 December 2024
27,630
293,815
27,990		 Total
£
403,294
30,843
(1,659)
432,478
53,859
11,753
(1,315)
64,297
368,181
349,435

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

13
Fixed asset investments
Cost or valuation
At 1 January 2025 & 31 December 2025
Carrying amount
At 31 December 2025
At 31 December 2024
Other investments comprise:
Notes
Investments in subsidiaries
22
14
Debtors
Amounts falling due within one year:
Amounts owed by subsidiary undertakings
Other debtors
Prepayments and accrued income
15
Creditors: amounts falling due within one year
Notes
Deferred income
16
Accruals		 Other
investments
4
4
4
2025
2024
£
£
4
4
2025
2024
£
£
8,647
2,391
3,542
3,135
1,094
1,092
13,283
6,618
2025
2024
£
£
17,063
17,063
9,951
5,123
27,014
22,186		 Other
investments
4
4
4
2025
2024
£
£
4
4
2025
2024
£
£
8,647
2,391
3,542
3,135
1,094
1,092
13,283
6,618
2025
2024
£
£
17,063
17,063
9,951
5,123
27,014
22,186
4
4
2024
£
4
2024
£
2,391
3,135
1,092
6,618
2024
£
17,063
5,123
22,186

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

16
Deferred income
Arising from Membership in advance and
production deposits
Deferred income is included in the financial statements as follows:
Deferred income is included within:
Current liabilities
Movements in the year:
Deferred income at 1 January 2025
Released from previous periods
Resources deferred in the year
Deferred income at 31 December 2025
17
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
2024
£
£
17,063
17,063
2025
2024
£
£
17,063
17,063
17,063
15,147
-
(15,147)
-
17,063
17,063
17,063
2025
2024
£
£
1,866
1,765

The CIO operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the CIO in an independently administered fund.

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

18 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 January Incoming Resources At 31
2025 resources expended December
2025
£ £ £ £
Centre refurbishment work and fixed assets 11,796 - (2,359) 9,437
Lottery Community Fund - Solar instalation 20,000 - (4,000) 16,000
Colchester County Council - Roof repair 1,000 6,551 (7,551) -
32,796 6,551 (13,910) 25,437
Previous year: At 1 January Incoming Resources At 31
2024 resources expended December
2024
£ £ £ £
Centre refurbishment work and fixed assets 14,745 - (2,949) 11,796
Enovert Community Trust - Roof repair - 1,010 (1,010) -
Lottery Community Fund - Solar instalation - 20,000 - 20,000
Colchester County Council - Roof repair - 1,000 - 1,000
14,745 22,010 (3,959) 32,796

19 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 January Incoming Resources At 31
2025 resources expended December
2025
£ £ £ £
Sound System Upgrade 13,010 - (3,456) 9,554
General funds 374,830 214,207 (223,152) 365,885
387,840 214,207 (226,608) 375,439

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2025

19 Unrestricted funds (Continued)
Previous year: At 1 January Incoming Resources At 31
2024 resources expended December
2024
£ £ £ £
Sound System Upgrade - 15,030 (2,020) 13,010
General funds 369,952 219,910 (215,032) 374,830
369,952 234,940 (217,052) 387,840

20 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 December 2025:
Tangible assets
342,744
25,437
Investments
4
-
Current assets/(liabilities)
32,691
-
375,439
25,437
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 December 2024:
Tangible assets
337,639
11,796
Investments
4
-
Current assets/(liabilities)
50,197
21,000
387,840
32,796		 Total
2025
£
368,181
4
32,691
400,876
Total
2024
£
349,435
4
71,197
420,636

Unrestricted funds comprise those funds which the trustees are free to use in accordance with the charitiable objects of the CIO.

Restricted funds are funds given by grants for specific refurbishment works or fixed assets.

21 Related party transactions

MERSEA ISLAND COMMUNITY ASSOCIATION CIO

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2025

21 Related party transactions

(Continued)

During the period Mersea Island Community Trading Company Limited, a subsidiary of the CIO, donated £17,937 (2024: £24,312) to the CIO from whose premises it runs a bar. No conditions are attached to these donations.

At the end of the period, the CIO was owed by the company £8,647 (2024: £2,391), this is unsecured and no conditions are attached.

22 Subsidiaries

Details of the CIO's subsidiaries at 31 December 2025 are as follows:

Name of undertaking Registered Nature of business Class of % Held office shares held Direct Indirect Mersea Island Community England and Hospitality Ordinary Trading Company Limited Wales 100

The aggregate capital and reserves and the result for the year of subsidiaries excluded from consolidation was as follows:

Name of undertaking Profit/(Loss) Capital and Reserves £ £ Mersea Island Community Trading Company Limited 17,938 2,447